Richardson Electronics (NASDAQ:RELL) Announces Earnings Results

Richardson Electronics (NASDAQ:RELL) released its quarterly earnings results on Wednesday. The technology company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.14, FiscalAI reports. The business had revenue of $66.20 million for the quarter, compared to the consensus estimate of $55.37 million. Richardson Electronics had a return on equity of 3.57% and a net margin of 2.79%.

Richardson Electronics Stock Performance

NASDAQ RELL traded down $3.38 during trading hours on Friday, reaching $18.44. The stock had a trading volume of 264,383 shares, compared to its average volume of 183,418. Richardson Electronics has a 52-week low of $9.37 and a 52-week high of $23.15. The stock has a fifty day moving average of $17.38 and a 200 day moving average of $14.15. The stock has a market cap of $268.53 million, a P/E ratio of 42.10, a price-to-earnings-growth ratio of 1.85 and a beta of 1.26.

Richardson Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Friday, August 7th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, August 7th. This represents a $0.24 annualized dividend and a dividend yield of 1.3%. Richardson Electronics’s dividend payout ratio is 88.89%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Richardson Electronics in a research report on Monday. Northland Securities set a $14.00 target price on shares of Richardson Electronics in a research note on Friday, April 10th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $14.00.

Insiders Place Their Bets

In other news, Director Kenneth Halverson sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $14.69, for a total value of $146,900.00. Following the transaction, the director directly owned 14,345 shares in the company, valued at approximately $210,728.05. This represents a 41.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kathleen Mcnally sold 6,636 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $16.85, for a total value of $111,816.60. Following the transaction, the executive vice president owned 45,719 shares in the company, valued at $770,365.15. This trade represents a 12.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 33.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RELL. Tower Research Capital LLC TRC raised its stake in shares of Richardson Electronics by 298.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the technology company’s stock valued at $40,000 after acquiring an additional 3,117 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Richardson Electronics during the second quarter worth approximately $57,000. Los Angeles Capital Management LLC acquired a new stake in Richardson Electronics in the fourth quarter valued at approximately $91,000. Engineers Gate Manager LP acquired a new position in Richardson Electronics during the 2nd quarter worth approximately $103,000. Finally, Deutsche Bank AG increased its position in shares of Richardson Electronics by 150.3% in the 4th quarter. Deutsche Bank AG now owns 11,421 shares of the technology company’s stock valued at $124,000 after purchasing an additional 6,858 shares during the last quarter. Hedge funds and other institutional investors own 71.95% of the company’s stock.

About Richardson Electronics

Richardson Electronics, Ltd. (NASDAQ:RELL) is a global manufacturer, distributor and servicer of engineered components and subsystems for a diverse range of industrial, medical and scientific applications. The company specializes in vacuum electron devices, high-voltage power supplies and related electronic components, offering klystrons, traveling wave tubes, magnetrons, X-ray tubes, microwave amplifiers and power conversion products. Its solutions support customers in power grid management, semiconductor processing, medical imaging, scientific instrumentation and telecommunications.

In addition to its manufacturing capabilities, Richardson Electronics maintains a broad distribution network comprising thousands of standard and custom parts.